Duplex with Oversized
For Sale
Under Contract
$589,000
65 Summit Avenue, West Warwick, RI 02893
Residential Income, West Warwick, RI
Property Size2,322 SF
Lot Size0.36 Acres
Price / SF$253.66
Days on Market51
Property Features for 65 Summit Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Basement
Parking
9
Parking features
Open
Window features
Storm Window(s)
Patio and Porch features
Patio, Porch
Interior features
Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Ceiling), Insulation (Floors), Insulation (Walls)
Exterior features
Breezeway, Patio, Porch
Basement
Finished, Full, Storage Space
Appliances
Dishwasher, Dryer, Microwave, Oven, Range, Refrigerator, Washer, Tankless Water Heater
Lot features
Corner Lot, Fenced, Paved Driveway, Sidewalks
Standard status
Active Under Contract
Size
2,322 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7247
Utilities
Heating system
Oil, Zoned, Baseboard
Cooling system
Window Unit(s)
Amenities
fenced yard
side porch
front porch
workshop
extra storage room
laundry & utility room
bonus room
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Hardwood
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Re/Max Professionals · RE/MAX International
(401) 884-6050
Listed By:
Renee Fallon · License #RES.0042361
(401) 304-4663
Added: Aug 24
Changed: Sep 26
Last Checked: Oct 13 at 1:06PM
MLS# 1420167
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex pairs a first-floor residence with a second-level apartment that has a private entrance and separate utilities. The main level includes a kitchen with granite counters, an island and stainless steel appliances, plus dining and living rooms, a bedroom, and a bathroom with a claw-foot tub. A finished lower level connects to the first floor and also has exterior access, a full bath, two additional rooms, laundry, utility space and storage. The upper apartment has an eat-in kitchen, three bedrooms, a living room, a full bath and laundry.
An oversized garage includes a workshop, additional storage and a finished bonus room above. The property also has two driveways, a fenced yard, porches and a patio. Vinyl windows and a roof described as 10 years old are among the exterior features.
An oversized garage includes a workshop, additional storage and a finished bonus room above. The property also has two driveways, a fenced yard, porches and a patio. Vinyl windows and a roof described as 10 years old are among the exterior features.
Key Highlights
- Upper apartment has a private entrance and separate utilities
- First‑floor residence includes a kitchen with granite counters, island and stainless steel appliances
- Finished lower level offers two rooms, a full bath, laundry and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,738
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,760
$674.8K
Cap Rate 7%
$481,971
$482.0K
Cap Rate 9%
$374,867
$374.9K
Market Conditions
NOI Build-Up for 2,322 SF
Gross rent
$51.5K $22.20/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$48.2K $20.76/SF
− OpEx
−$14.5K −$6.23/SF
NOI
$33.7K $14.53/SF
Area
Kent County, RI
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,760
Cap Rate 7%
$481,971
Cap Rate 9%
$374,867
Alternative Uses
Best Use
Multifamily LT 5
$482.0K
$421.7K – $562.3K
NOI $33,738 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$442.8K
$387.4K – $516.6K
NOI $30,994 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$581.6K
$508.9K – $678.5K
NOI $40,709 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 02893, RI
31,030
Population
15,103
Households
2.1
Avg Household Size
41
Median Age
25%
College-Educated
90%
High-School Grad
7.8 sq mi
ZIP Area
3,978
Density / Sq Mi
$73,903
Median Household Income
$49,087
Median Earnings
$1,249
Median Rent
$293,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A separate-entry upper apartment has its own utilities, three bedrooms, living area, kitchen, bath and laundry.
Where is this duplex located?
The property is located at 65 Summit Avenue West Warwick, RI.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Upper apartment has a private entrance and separate utilities; First‑floor residence includes a kitchen with granite counters, island and stainless steel appliances; Finished lower level offers two rooms, a full bath, laundry and storage
